Softcat Cancels 123,918 Shares After Latest Buy-Back Transaction

Softcat ( (GB:SCT) ) has provided an update.

Softcat has repurchased 123,918 of its ordinary shares on the London Stock Exchange via J.P. Morgan Securities as part of the share buy-back programme launched earlier in January, at prices between 1,412p and 1,441p per share and a weighted average price of 1,428.4613p. The company intends to cancel these shares, reducing its issued share capital to 198,885,238 ordinary shares with voting rights and no shares held in treasury, a move that marginally increases existing shareholders’ proportional ownership and signals continued capital returns and balance sheet discipline to investors.

The most recent analyst rating on (GB:SCT) stock is a Buy with a £1654.00 price target. To see the full list of analyst forecasts on Softcat stock, see the GB:SCT Stock Forecast page.

Spark’s Take on GB:SCT Stock

According to Spark, TipRanks’ AI Analyst, GB:SCT is a Outperform.

Softcat’s strong financial performance and positive corporate events are the most significant factors driving the score. However, technical indicators suggest caution due to bearish trends, and the valuation is moderate. The absence of recent earnings call data limits insights into management’s current outlook.

To see Spark’s full report on GB:SCT stock, click here.

More about Softcat

Softcat plc is a UK-listed IT infrastructure and services provider, supplying technology solutions, software licensing and related support services to corporate and public sector customers. The company focuses on delivering end-to-end IT solutions, including cloud, networking, security and workplace services, primarily to organisations across the UK and Ireland.

Average Trading Volume: 488,159

Technical Sentiment Signal: Hold

Current Market Cap: £2.82B

For an in-depth examination of SCT stock, go to TipRanks’ Overview page.